Telstra's big strategic announcement on Wednesday had the potential to be the kind of landmark moment which could offer a reset in the market's valuation of the shares. It might even provide a glimmer of hope to the company's legion of perennially disappointed retail investors.

So when news broke of the telco's decision to hive off its infrastructure assets (presumably with a view to offload them altogether) alongside some more cost cutting measures, it made a suitably large splash.